Cisco to takeover Duo Security in a $2.35 billion deal

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Last year, Cisco Systems Inc had purchased business performance management and operation analytics company, AppDynamics, for $3.7-billion purchase. Now, Cisco is about to make significant headway with an even bigger acquisition, by buying Duo Security, a provider of cloud-based authentication services, for $2.35 billion in cash, as the company commented on Thursday.

This is going to be its biggest deal in the cybersecurity department since 2013 when the tech conglomerate took over Sourcefire.

Duo’s Trusted Access platform is used to verify the identity of its users with a two-step authentication process and is integrated with clouds, websites, and VPNs. Firms like Index Ventures and Workday have invested in its services.

According to Reuters, Cisco is discussing the deal with the said company, which is expected to be complete by the first quarter of 2019.

If things go smoothly, the deal will help Cisco expand business in its cybersecurity and cloud computing sector and bring in new profits to its long-established business of networking hardware and equipment.

Cisco to takeover Duo Security in a $2.35 billion deal